In order to start a small business, a student takes out a simple interest loan for $3000.00

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In order to start a small business, a student takes out a simple interest loan for $3000.00 for 9 months at a rate of 12.00%.

a. How much interest must the student pay?

b. Find the future value of the loan.

Related Book For answer-question

Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

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Posted Date: May 15, 2023 06:10 AM

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In order to start a small business, a student takes out a simple interest loan for $3000.00

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Expert Answer:

aGiven that interest loan 300000 Time 9 months Rate 1200 To calculate the interest use the for... View the full answer

Entrepreneurial Finance

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